Newsletter

Port deepening: A major boost

THE MUCH-NEEDED effort to deepen the Savannah harbor is picking up steam in Washington, where the U.S. House overwhelmingly approved a measure that authorizes necessary federal funds for the project.

It’s gratifying that national leaders, from President Obama on down, understand that deepening Savannah’s shipping channel is good for the nation’s economy. Savannah exports more goods than it imports.

By making it easier and more economical to ship U.S.-made products abroad, the better that conditions are for America’s job-producers.

The measure that the House approved 417-3 authorizes $662 million for the dredging project, the most studied harbor-deepening project in the nation’s history. It’s a major boost. It now goes before a House-Senate conference committee, where conferees will work out some remaining political kinks.

It should be clear sailing after that happens, since Mr. Obama has already signaled his support for the project. Some observers believe that could come before the end of the year. Let’s hope they’re right.

The Water Resources Reform and Development Act isn’t an appropriations bill, however. It simply gives the green light for spending, which the feds will have to do at some point — assuming Democrats and Republicans can get their acts together and stop running government into the ground.

In that regard, this authorization bill contains a significant wrinkle — it apparently allows port deepening to commence using state money.

Georgia has already put aside $231 million for the project. Gov. Nathan Deal said this week that the Georgia Ports Authority doesn’t have to wait on the feds to get started on the work.

“In addition to authorizing the project, the bill could allow Georgia to begin using the money it has put aside for the deepening,” the governor said. “That is a critical victory for Georgia as we race to get ready for the much larger ships that will soon sail through an enlarged Panama Canal.”

Indeed, it is a race. The bigger ships will be coming. Those U.S. ports that are best prepared should reap the bigger dividends.

Language in the bill approving the project’s current cost opens the door for the U.S. Army Corps of Engineers and the state of Georgia to sign an agreement delineating responsibilities for deepening the channel from 42 feet to 47 feet. It also sets a timeline.

And time appears to be a wastin’.

Curtis Foltz, the GPA’s executive director, said the mega ships are expected on the East Coast after the Panama Canal expansion is finished in 2015. That’s right around the corner. Neither Congress nor the president should dawdle.

Indeed, this is an example of the government spending money the right way. Studies have shown that Savannah harbor deepening has a benefit-to-cost ratio of 5.5 to 1. That’s almost unheard of. It translates into $174 million in net annual economic benefits when completed.

Georgia’s entire congressional delegation should be applauded for their diligence in getting Congress to move on this bill. While Democrats and Republicans can’t seem to agree on the time of day, it’s encouraging to know they can agree on putting Americans to work and boosting the nation’s economy.